There could be a potential scalping opportunity for BTC. Price may retest the 42400 level and if this happened, I would place a LONG position once price reached this level, and target 43470 level. /please DYOR/trade at your own risk
The chart may be showing the price to rise due to the divergence that formed between RSI 14 and the price, but it is likely that full divergence have not been completed yet, so price would probably go down more (after a retest of 42600 level, 50%) until enough bullish momentum has been achieved. Price should breakdown the support (green box) to continue the...
If price did not close above the 43680 level, it would likely to follow the bullish line path (green line) and a new lower lows may form onec price closed below the 43420 level. /please DYOR/trade at your own risk
This is a theory I have been testing for 3 months now. This chart analysis technique is all based from RSI movement and data. Bearish line is drawn by connecting red candles with corresponding lowest/lower RSI 'peak'. Bullish line is drawn by connecting green candles with corresponding highest/higher RSI 'peak'. I used the highest and lowest price of each...
In this chart, the reigning bearish candle has a closing price of 0.61528 and corresponding RSI value also closed at 52.06%. When compared to the recent bearish candle, which at the moment is trying to close at a price below reigning candle's price with an RSI value also below 52.06%, this could indicate that the next candles could break down the bearish line (red...
Here is a rapid analysis of dailky chart using just the bear and bull lines drawn based on the higher peaks and trough of RSI values. It seems BTC would likely to follow the the bull line and it may attempt to break the resistance line
To trade Long: Price must break the bullish line (green) and enter LONG once the proce closed above 0.62116. Monitor the RSI-14 as well, RSI must break the bearish line and enter once price close at 55%. /please DYOR/trade at your own risk
In my previous post, the indicator showed a confluence between the 70% and Upper 50% level. Their difference is too narrow and the price behaved quite differently from what is expected. The price was trying to get through that level, but the confluence was persistent in blocking the price, which probably caused the price to retest lower key levels. This means that...
Based on my indicator's calculation, the difference between the 70% and Upper 50% level is too narrow, and it could be considered as a confluence level. Frankly, I do not know yet what this could mean and what it is trying to indicate. But I am quite sure it could serve as main key level where we can probably expect a radical price behaviour. In the meantime,...
BTC is in the process of gathering momentum and gearing up for another bullish run, but this will not happen yet. It must break the 70% level in order to witness another bullish run. In the meantime, price just broke out from the bullish line (green line) indicating that price is attempting to sustain itself from reaching the 70% line. I would place a LONG order...
A divergence formed which could potentially indicate pullback of BTC to levels between 40623 and 41144. If the pullback gathered enough momentum, BTC will attempt to break the 42060 level. /please DYOR/trade at your own risk
Range for BTC is quite wide, between 43152.6 and 44350. Notice that candles closed below the bearish line channel. This could indicate that price is likely to retest the 50%B level and bounce back to 50%A at 44350, an opportunity to place SHORT order (use price action for entry) If there is no much momentum at the 50%, BTC could attempt to retest the 30% level,...
I am currently developing an idea about the use of a candle with lowest or highest RSI peak within the 14 to 21 period. I call them the "Reigning Candles" . These candles can quickly determine key levels where price forms new higher highs or lower lows as soon as the price breaks these levels. In this case, the key level based on the reigning candle is 43430, a...
In my previous post, I mentioned that there is a likelihood that price will attempt to reach the 40k level, and it happened. Based on the prevailing market, the levels were recalculated and key levels to watch for are the following: 40910 - a breakout of this level will create another new higher highs, a bullish run. 40680 - a breakdown of this level could...
Recent long candle potentially created an imbalance in the buy and sell orders, which provided the opportunity to identify the fair value gap areas as well as the demand zone. These structures/values confluenced with the key levels identfied for XRP. Levels to watch out for are as follows: 0.62270 - XRP to pullback once it gathers momentum from this level. This...
In my previous post, the 38900 level was identified as a key level where price could rise once it closed above this range. The price just had a breakout of this level and is now attempting to reach the 40k level. This could happen if there is another breakout of the 39500 key level. Should BTC needed to gather more momentum, it could retest the 39000 level....
Key levels to watch out for are as follows: 38900 zone - a breakout of this level could indicate that price will attempt to reach the 40K level. 38150 to 38350 level = a breakdown of this level indicate that the price will attempt to retest the 3600 level, and from that point, BTC may even go further to retest the 33K to 34K level. At the moment, BTC is quite...
Divergence formed between the price and RSI 14-period indicating potential bearish trend. However, key levels were detected and these levels provides a very narrow space for price to hover. Confluence of key levels are observed between 38658.8 and 38746.5. This means that if price closed beyond these level, price may form a new higher high or new lower lows. At...